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The project concerns an intermediated loan to finance the construction of a highly energy efficient school building for 1,700 students in Nuremberg, Germany. The project is implemented by WBG Kommunal GmbH, a public housing construction company of the City of Nuremberg.
The project addresses a need for additional school places in the City of Nuremberg.
The proposed operation supports the construction of a highly energy efficient school building in the City of Nuremberg, Germany. The project therefore addresses a market failure with regard to the provision of public education for which the operator cannot capture sufficient financial benefits, justifying public intervention.
Part of the financial advantage generated by the Financial Intermediary through the EIB's intervention is transferred to the final beneficiary, for example in the form of reduced interest rate payable, increasing the availability of budget for other means.
Directive 2011/92/EU amended by 2014/52/EU on Environmental Impact Assessment (EIA) does not specifically cover educational activities, leaving it at the discretion of the responsible competent authorities to request an EIA on the basis of the location and scale of the works concerned. However, educational facilities may fall under Annex II of the Directive with respect to Urban Development. The Bank's services will verify during appraisal whether an EIA is required by the competent authority. The public buildings will be required to at least meet the energy efficiency targets as defined in Directive 2010/31/EU on the energy performance of buildings and Directive 2012/27/EU on energy efficiency.
In accordance with the Bank's policy to ensure that the loan complies with the EU acquis, in particular in the fields of public procurement, the Bank will require such intermediary institution to take all requisite measures to ensure that the procurement procedures carried out by the final beneficiary for the project that the Bank finances will comply with the relevant EU legislation and the applicable national legislation, provided that it is in conformity with EU rules.